A double nature characterizes the behavior of the government in the venture capital market: a fear of systemic risk and the desire to stimulate companies with growth potential. It seems that the fear might be a bit excessive, disproportionately restricting the effects of venture capital in the...

In Japan, many local mixed enterprises owned and operated jointly by local governments and private sectors had been established from the late 1980's to the early 1990's in order to provide public services more efficiently. At present, in Japan, many local mixed enterprises are confronted with a...